Applying for Financial Aid

The curricula offered at Morrison Institute of Technology have been accredited by a nationally recognized accrediting agency, and qualified students, therefore, may take advantage of a number of federally funded student financial aid programs. Financial Aid for students who are currently enrolled is renewable provided that financial applications are submitted on time, the student's family continues to demonstrate eligibility and the student meets prescribed academic progress standards as outlined in the college catalog.

2019 - 2020 Free Application for Federal Student Aid (FAFSA)

The FAFSA is required if you are requesting institutional, State and/or federal financial aid. Our federal school code is 008880.

Applying for financial assistance to meet your financial obligations in achieving your educational goals is as easy as one, two three.

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Create FSA ID

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Complete FAFSA

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Visit With Financial Aid Officer

New myStudentAid Mobile App Video

We now have a promotional video that highlights the features of myStudentAid, Federal Student Aid’s (FSA) mobile app. One of the app’s important features is the ability to fill out the Free Application for Federal Student Aid (FAFSA®) form! Help spread the word and make sure you share the video on your website or social media platforms

NET PRICE CALCULATOR

Planning and financing your college education is as easy as 1-2-3. Below is the online Net Price Calculator to assist you with calculating your “estimated” educational cost. Please be advised that the calculator is for estimating purposes only and shall not be binding on Morrison Institute of Technology. Final eligibility for aid is subject to student completing the FAFSA, meeting eligibility, meeting priority deadline, and availability of funds. For more information on applying for Federal student aid, go to http://www.fafsa.ed.gov. Let us show you how affordable your college education can be at Morrison Institute of Technology. Below is the online Net Price Calculator to assist you with calculating your “estimated” educational cost. Please be advised that the calculator is for estimating purposes only and shall not be binding on Morrison Institute of Technology. Final eligibility for aid is subject to student completing the FAFSA, meeting eligibility, meeting priority deadline, and availability of funds. For more information on applying for Federal student aid, go to http://www.fafsa.ed.gov.

Loans

Federal Verification Requirements

If your FAFSA is selected for verification by the Department of Education and you did not use (or are unable to use) the IRS Data Retrieval Tool (DRT), you will be required to complete a Verfication Worksheet and provide the college with an IRS Tax Return Transcript. Please note that the federal government requires us to collect this information, even if you have already provided us with copies of your federal income tax returns. You may obtain information on obtaining an IRS Tax Return Transcript at this link:

There is also a pdf document on the forms page with instructions. Copies of tax returns, W-2 forms and any supplemental forms and information should be mailed to:

Morrison Institute of Technology

Student Financial Aid Services

701 Portland Ave.

Morrison, Illinois 61270

Or you may email to: finaid@morrisontech.edu

Or fax to: 815-772-7584

Student Loan Entrance Counseling

If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming.

If you are completing entrance counseling to borrow a loan as an undergraduate student, then the entrance counseling will fulfill counseling requirements for Direct Subsidized Loans and Direct Unsubsidized Loans.

If you are completing entrance counseling to borrow a loan as a graduate or professional student, the entrance counseling will fulfill counseling requirements for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans.

Who should complete this?

Students who have not previously received a subsidized/unsubsidized loan or PLUS loan (graduate/professional students only) under the Direct Loan Program or Federal Family Education Loan (FFEL) Program.

How long will it take?

The entire counseling process must be completed in a single session. Most people complete counseling in 20-30 minutes.

Typical Financial Aid Package

A typical student financial aid package will be made up of several different available programs. The Financial Aid Officer will meet with you personally to develop the plan that will best meet your needs.